Anguilla

Bermuda

British Virgin Islands

Cayman Islands

Cook Islands

Jersey

Location

Caribbean, 150 miles east of Puerto Rico

Mid-Atlantic

Caribbean, east of Puerto Rico

Caribbean; south of Cuba and west of Jamaica

South Pacific

English Channel, 14 miles off French coast

Legal system

English common law

English common law

English common law

English common law

English common law

Based on Norman law, with English common law

Language(s)

English

English

English

English

English, Cook Islands Maori

English and local Norman Patois

Currency

Eastern Caribbean Currency ($EC) and $US dollar ($US)

Bermuda dollar ($BD)

US dollar ($US)

Cayman Islands dollar ($CI)

New Zealand dollar ($NZ)

Pound sterling (§)

Exchange controls

None

None for international offshore activities

None

None

None

None

Banking confidentiality

Yes

Yes

Yes

Yes

Yes

Yes

Time zone

GMT minus 4 hours

GMT minus 4 hours

GMT minus 4 hours

GMT minus 5 hours; no daylight saving time

GMT minus 10 hours

GMT (British Summer Time)

Tax treaties

None

United States of America

Japan, Switzerland and United Kingdom (applicable to resident companies only)

None

None

Guernsey and United Kingdom, plus France in respect of shipping and airfreight

Company acquisition time:

(1) Shelf companies

(1) Instant (3-min)

(1) Not generally available

(1) 1 day

(1) 1 day

(1) 1 day

(1) Not allowed

(2) New formations

(2) Instant

(2) 15-20 working days

(2) 1 day

(2) 1-2 days

(2) Up to 28 Days

(2) 1 day

Incorporation Costs:

(1) Government Registry

 US$250.00 regardless of share capital

US$1,600.00 + US$200.00 based on minimum share capital of US$12,000.00

US$300.00 on share capital of US$50,000.00 or less

US$492.00

 ¤130

¤160 or ¤200 (the latter is same day formation)

(2) Registered Agent

 US$500.00 (avg)

US$2,000.00 (avg.)

 US$980.00 (avg.)

US$1,200.00 (avg.)

 ¤500

 ¤880